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Dividend Dates And Distribution Amounts Announced For Certain BlackRock Closed-End Funds

Certain BlackRock closed-end funds (the “Funds”) announced distributions and special distributions today as detailed below.

Several of the Funds announced dividend increases. These dividend increases take into account each Fund’s earnings potential in light of the current market environment.

In addition, several other Funds announced dividend reductions. Generally, these dividend reductions were made in order to better align the Funds with their current earnings rates in light of the current market environment. With respect to BlackRock Credit Allocation Income Trust I, Inc. (NYSE:PSW), BlackRock Credit Allocation Income Trust II, Inc. (NYSE:PSY), BlackRock Credit Allocation Income Trust III (NYSE:BPP) and BlackRock Credit Allocation Income Trust IV (NYSE:BTZ), the dividend reductions announced today were made in conjunction with the repositioning of each of the funds relative to certain changes to the Funds’ non-fundamental investment policies, as announced on September 4, 2009.

Monthly Distributions

Municipal Funds:

Declaration- 12/6/2010     Ex-Date- 12/13/2010     Record- 12/15/2010     Payable- 12/31/2010
National Funds     Ticker     Dividend     Change From Prior

Dividend

BlackRock Apex Municipal Fund, Inc. APX $0.044000 -
BlackRock Municipal Income Quality Trust BYM $0.077000 -
BlackRock Municipal Income Investment Quality Trust BAF $0.074500 $0.001000
BlackRock Investment Quality Municipal Income Trust RFA $0.070000 -
BlackRock Long-Term Municipal Advantage Trust BTA $0.061000 -
BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.071500 -
BlackRock MuniAssets Fund, Inc. MUA $0.062500 -
BlackRock Municipal 2020 Term Trust BKK $0.062250 -
BlackRock Municipal Bond Trust BBK $0.086000 -
BlackRock Municipal Bond Investment Trust BIE $0.078800 -
BlackRock Municipal Income Trust BFK $0.080100 $0.001500
BlackRock Municipal Income Trust II BLE $0.083500 $0.001500
BlackRock Municipal Income Investment Trust BBF $0.075375 -
BlackRock MuniEnhanced Fund, Inc. MEN $0.057000 -
BlackRock MuniHoldings Fund II, Inc. MUH $0.080500 -
BlackRock MuniHoldings Fund, Inc. MHD $0.090500 $0.001500
BlackRock MuniHoldings Quality Fund II, Inc. MUE $0.073500 -
BlackRock MuniHoldings Quality Fund, Inc. MUS $0.074000 -
BlackRock MuniHoldings Investment Quality Fund MFL $0.075000 -
BlackRock MuniVest Fund II, Inc. MVT $0.088500 -
BlackRock MuniVest Fund, Inc. MVF $0.059000 $0.002000
BlackRock MuniYield Fund, Inc. MYD $0.082500 -
BlackRock MuniYield Quality Fund III, Inc. MYI $0.072000 -
BlackRock MuniYield Investment Quality Fund MFT $0.071000 -
BlackRock MuniYield Investment Fund MYF $0.077500 $0.002500
BlackRock MuniYield Quality Fund II, Inc. MQT $0.067000 -
BlackRock MuniYield Quality Fund, Inc. MQY $0.077000 -
The BlackRock Investment Quality Municipal Trust, Inc. BKN $0.084000 -
The BlackRock Strategic Municipal Trust BSD $0.074000 $0.001500
 

State-Specific Funds

Ticker Dividend Change From Prior

Dividend

BlackRock California Municipal Income Trust BFZ $0.075700 -
BlackRock MuniHoldings California Quality Fund, Inc. MUC $0.075500 $0.002000
BlackRock MuniYield California Fund, Inc. MYC $0.079000 $0.003000
BlackRock MuniYield California Quality Fund, Inc. MCA $0.073500 $0.003000
BlackRock Florida Municipal 2020 Term Trust, Inc. BFO $0.056000 -
BlackRock Maryland Municipal Bond Trust BZM $0.079000 -
BlackRock Muni New York Intermediate Duration Fund, Inc. MNE $0.061000 -
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.079500 -
BlackRock MuniYield New York Quality Fund, Inc. MYN $0.071000 -
BlackRock New York Municipal Income Quality Trust BSE $0.071500 -
BlackRock New York Municipal Bond Trust BQH $0.082000 -
BlackRock New York Municipal Income Trust BNY $0.082500 -
BlackRock New York Municipal Income Trust II BFY $0.083500 -
The BlackRock New York Investment Quality Municipal Trust, Inc. RNY $0.073000 -
BlackRock MuniHoldings New Jersey Quality Fund, Inc. MUJ $0.074000 -
BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.072500 $0.001000
BlackRock MuniYield New Jersey Quality Fund, Inc. MJI $0.072000 -
BlackRock New Jersey Municipal Bond Trust BLJ $0.078000 -
BlackRock New Jersey Municipal Income Trust BNJ $0.079100 $0.001500
The BlackRock New Jersey Investment Quality Municipal Trust RNJ $0.065500 -
BlackRock MuniYield Arizona Fund, Inc. MZA $0.069500 -
BlackRock MuniYield Michigan Quality Fund II, Inc. MYM $0.071500 -
BlackRock MuniYield Michigan Quality Fund, Inc. MIY $0.076500 -
BlackRock MuniYield Pennsylvania Quality Fund MPA $0.076500 $0.002000
The BlackRock Pennsylvania Strategic Municipal Trust BPS $0.076000 $0.002500
BlackRock Virginia Municipal Bond Trust BHV $0.083000 -
Massachusetts Health & Education Tax-Exempt Trust MHE $0.070000 -

Taxable Municipal Fund:

Declaration- 12/6/2010     Ex-Date- 12/13/2010     Record- 12/15/2010     Payable- 12/20/2010
Fund       Ticker       Dividend       Change From Prior

Dividend

BlackRock Build America Bond Trust* BBN $0.118300 -

Taxable Funds:

Declaration- 12/6/2010     Ex-Date- 12/13/2010     Record- 12/15/20     10 Payable- 12/20/2010
Fund     Ticker     Dividend     Change From Prior

Dividend

BlackRock Senior High Income Fund, Inc. ARK $0.025000 -
BlackRock Floating Rate Income Trust BGT $0.075000 $0.002500
BlackRock Strategic Bond Trust BHD $0.079500 -
BlackRock Core Bond Trust BHK $0.067000 -
BlackRock Defined Opportunity Credit Trust BHL $0.066000 -
The BlackRock High Yield Trust BHY $0.043500 -
The BlackRock Income Trust, Inc. BKT $0.026500 $0.002500
BlackRock Limited Duration Income Trust BLW $0.095000 $0.007500
BlackRock Income Opportunity Trust, Inc. BNA $0.051000 -
BlackRock Credit Allocation Income Trust III* BPP $0.054000 -$0.012500
BlackRock Credit Allocation Income Trust IV* BTZ $0.069000 -$0.010000
BlackRock Corporate High Yield Fund, Inc. COY $0.051000 -
BlackRock Corporate High Yield Fund III, Inc. CYE $0.050000 -
BlackRock Debt Strategies Fund, Inc.* DSU $0.027000 -
BlackRock Diversified Income Strategies Fund, Inc. DVF $0.063500 -
BlackRock Enhanced Government Fund, Inc.* EGF $0.080000 -
BlackRock Floating Rate Income Strategies Fund, Inc.* FRA $0.077000 -
BlackRock Floating Rate Income Strategies Fund II, Inc.* FRB $0.075000 -
BlackRock High Income Shares HIS $0.014200 -
BlackRock Corporate High Yield Fund VI, Inc. HYT $0.082500 -
BlackRock Corporate High Yield Fund V, Inc. HYV $0.082500 -
BlackRock Credit Allocation Income Trust I, Inc.* PSW $0.049500 -$0.007500
BlackRock Credit Allocation Income Trust II, Inc.* PSY $0.053500 -$0.010000

Special Distributions

Declaration- 12/6/2010     Ex-Date- 12/13/2010     Record- 12/15/2010     Payable- 12/31/2010
Fund     Ticker    

Taxable

Ordinary

Income

   

Short-Term

Capital

Gain

   

Long-Term

CapitalGain

BlackRock Apex Municipal Fund, Inc. APX $0.009534 - -
BlackRock Municipal Bond Trust BBK $0.002077 - -
BlackRock Municipal Income Trust BFK $0.000703 - -
BlackRock California Municipal Income Trust BFZ $0.001032 - -
BlackRock Virginia Municipal Bond Trust BHV $0.000601 $0.006496 $0.077888
The BlackRock Investment Quality Municipal Trust, Inc. BKN $0.002301 - -
BlackRock New Jersey Municipal Bond Trust BLJ $0.003676 - $0.031013
BlackRock New Jersey Municipal Income Trust BNJ $0.004118 - -
BlackRock New York Municipal Bond Trust BQH $0.000405 $0.004950 -
The BlackRock Strategic Municipal Trust BSD $0.003405 - -
BlackRock Long-Term Municipal Advantage Trust BTA $0.002190 - -
BlackRock Maryland Municipal Bond Trust BZM $0.000265 - $0.021974
BlackRock MuniHoldings Fund, Inc. MHD $0.007416 $0.032355 $0.075505
BlackRock MuniHoldings New York Quality Fund, Inc. MHN $0.003521 - -
BlackRock MuniYield Pennsylvania Quality Fund MPA $0.009377 - -
BlackRock MuniYield Quality Fund, Inc. MQY $0.000487 - -
BlackRock MuniAssets Fund, Inc. MUA $0.012276 - -
BlackRock MuniHoldings Fund II, Inc. MUH $0.002662 $0.005112 $0.066937
BlackRock Muni Intermediate Duration Fund, Inc. MUI $0.000335 - -
BlackRock MuniVest Fund, Inc. MVF $0.000177 - -
BlackRock MuniVest Fund II, Inc. MVT $0.000737 - -
BlackRock MuniYield Fund, Inc. MYD $0.001924 - -
BlackRock MuniYield Quality Fund III, Inc. MYI $0.000284 - -
BlackRock MuniYield New Jersey Fund, Inc. MYJ $0.006280 - -

* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended, each of the Funds noted above posted to the DTC bulletin board and sent to their shareholders as of the applicable record date a Section 19 notice with the previous dividend payment. The Section 19 notice was provided not for tax reporting purposes but for informational purposes only. This information can be found in the “Closed-End Funds” section of www.blackrock.com. If applicable, the final determination of the source and tax characteristics of all distributions in 2010 will be made after the end of the year.

BlackRock Enhanced Government Fund, Inc. (NYSE:EGF) (“EGF”) has adopted a level distribution plan (the “Plan”) and employs either a managed distribution or an option over-write policy to support a level distribution of income, capital gains and/or return of capital. The fixed amounts distributed per share are subject to change at the discretion of EGF’s Board. Under its Plan, EGF will distribute all available investment income to its shareholders, consistent with its primary investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient investment income is not available on a quarterly/monthly basis, EGF will distribute long-term capital gains and or return capital to their shareholders in order to maintain a level distribution.

EGF’s estimated sources of the distributions paid as of November 30, 2010 are as follows:

Estimated Allocations as of November 30, 2010
Fund       Distribution       Net Investment Income      

Net RealizedShort-Term Gains

 

     

Net Realized Long-Term Gains

      Return of Capital
EGF 1       $0.080000       $0.055611 (70%)       $0.00 (0%)       $0.00 (0%)       $0.024389 (30%)
 

Estimated Allocations for the fiscal year through November 30, 2010

Fund       Distribution       Net Investment Income      

Net RealizedShort-Term Gains

     

Net Realized Long-Term Gains

      Return of Capital
EGF 1       $0.825000       $0.578518 (70%)       $0.00 (0%)       $0.00 (0%)       $0.246482 (30%)

1 The Fund estimates that it has distributed more than its income and capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect a Fund’s investment performance and should not be confused with ‘yield’ or ‘income’.

The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon EGF’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. EGF will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:
Fund       Average annual total return (in relation to NAV) for the 5-year period ending on October 31, 2010       Annualized current distribution rate expressed as a percentage of NAV as of October 31, 2010       Cumulative total return (in relation to NAV) for the fiscal year through October 31, 2010       Cumulative fiscal year distributions as a percentage of NAV as of October 31, 2010
EGF       4.91%       5.73%       5.51%       4.45%

Shareholders should not draw any conclusions about EGF’s investment performance from the amount of EGF’s current distributions or from the terms of EGF’s Plan.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2010, BlackRock’s AUM was $3.446 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares ® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions ®. Headquartered in New York City, as of September 30, 2010, the firm has approximately 8,900 employees in 24 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the firm’s website at www.blackrock.com

Forward-Looking Statements

This press release, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

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